Stochastics and Quality Control Ahead of Print / Just Accepted

Stochastics and Quality Control

Ahead of Print / Just Accepted

Contents
Journal Overview

Hedging the Risk of Wind Power Production Using Dispatchable Energy Source

Guglielmo D’Amico, Bice Di Basilio, Filippo Petroni January 12, 2021

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Abstract

In this paper we advance a nonlinear optimization problem for hedging wind power variability by using a dispatchable energy source (DES) like gas. The model considers several important aspects such as modeling of wind power production, electricity price, nonlinear penalization scheme for energy underproduction and interrelations among the considered variables. Results are given in terms of optimal co-generation policy with DES. The optimal policy is interpreted and analyzed in different penalization scenarios and related to a 48 MW hypothetical wind park. The model is suitable for integration of wind energy especially for isolated grids. Some probabilistic results for special moments of a Log-Normal distribution are obtained; they are necessary for the evolution of the optimal policy.

About this journal

Objective
Stochastics and Quality Control is devoted to all fields related to reliability and quality control in economy, finance, manufacturing, production and inventory. It primarily publishes research articles, but survey articles on a topical area inside the scope are considered, too.

The journal pays special attention to the interdisciplinary character of the topic. Not only mathematicians, but also scientists, economists as well as scholars from other disciplines contribute papers. The methods and results published thus are of interest to various applications in real life.

Topics

• Applied Stochastic Processes
• Branching Processes: Theory and Applications
• Reliability
• Ordered Data Analysis
• Statistical Methodology
• Business Management
• Economy and Finance

Article formats
Research and survey articles

Information on submission process